Mytheresa's net sales increased 9.9 percent in constant currency and 5.6 percent in reported year-over-year terms to €256 million (~$296.96 million) in the quarter ended March 31, 2026. Its gross merchandise value (GMV) increased 11.3 percent in constant currency and 7 percent in reported terms to €279.6 million.
LuxExperience Group's Mytheresa business has posted strong growth in Q3FY26, with net sales increasing 9.9 percent in constant currency to €256 million (~$296.96 million) and adjusted EBITDA increasing 50.4 percent. Group net sales stood at €618.4 million (~$717.34 million), while adjusted EBITDA remained positive for the second consecutive quarter. Net-A-Porter, Mr Porter and YOOX also showed improvement in margins.
“We are very pleased with the third quarter results. LuxExperience achieved positive adjusted EBITDA profitability as a group for the second consecutive quarter,” he said Michael Kliger, CEO of LuxExperience.
He further said Mytheresa achieved strong profitable growth despite geopolitical headwinds in March. “Net-A-Porter and Mr Porter, as well as YOOX, showed new sequential improvements, fully in line with our ongoing transformation plan for both segments,” Kliger added.
Mytheresa's gross profit margin improved 240 basis points (bps) to 47.1 percent, while adjusted EBITDA increased 50.4 percent to €14.1 million from €9.3 million in Q3FY25. Adjusted EBITDA margin increased to 5.5 percent, compared to 3.9 percent in the prior-year period.
The strong performance came despite geopolitical headwinds in March and was supported by exclusive capsule collections and pre-launches with luxury brands such as Alaia, Balenciaga, Bottega Veneta, Chloe, Gucci, Loewe, Saint Laurent and Phoebe Philo. Mytheresa also hosted client events with Khaite in New York, Gianvito Rossi in Florence and an industry cocktail party in Shanghai, LuxExperience said in a press release.
LuxExperience reinforces cost discipline
At the group level, LuxExperience reported net sales of €618.4 million (~$717.34 million), stable at constant currency, but down 5.2 percent compared to Q3 FY25. Gross merchandise value (GMV) stood at €653.7 million (~$758.29 million), up 0.3 percent at constant currency and up 4.9 percent decrease reported.
Basic and diluted loss per share stood at €0.06 in Q3FY26, narrowing from €0.25 in Q3FY25.
The group recorded an adjusted EBITDA of €5.7 million, representing an adjusted EBITDA margin of 0.9 percent. Its adjusted selling, general and administrative (SG&A) cost ratio improved to 18.3 percent in the third quarter of FY26, compared to 21.9 percent in the first quarter and 19.1 percent in the second quarter, reflecting the progress of its transformation plan.
Net-A-Porter and Mr Porter improve their margins
The Net-A-Porter and Mr Porter segment reported net sales of €231.6 million, down 5.1 percent in constant currency and down 11.7 percent on a reported basis. GMV decreased by 5.2 percent at constant exchange rates and by 11.8 percent to 243.4 million euros.
However, gross profit margin improved by 700 basis points to 48.5 percent from 41.6 percent in Q3FY25. Adjusted EBITDA was slightly negative at €1.1 million, with adjusted EBITDA margin of minus 0.5 percent, improving from minus 1.7 percent in the prior-year period.
The average order value increased 7.9 percent to 865 euros, while the net promoter score increased 890 basis points to 68.1.
YOOX reduces losses
YOOX's discount business posted net sales of €130.7 million, down 7.4 percent at constant exchange rates and down 11.4 percent on a reported basis. GMV also stood at 130.7 million euros, declining 8.9 percent at constant exchange rates and 12.9 percent reported.
Gross profit margin improved by 620 basis points to 37.5 percent from 31.3 percent in the prior-year period. Adjusted EBITDA improved to minus 7.2 million euros, with an adjusted EBITDA margin of minus 5.5 percent, compared to minus 17.3 percent in the third quarter of FY25.
LuxExperience said the partial workforce reduction linked to its multi-site transformation plan has been completed. The merchant platform migration for Net-A-Porter and Mr Porter remains underway, while the separation of YNAP's former luxury and discount businesses is almost complete.
Outlook for FY26 remains unchanged
For the full fiscal year 26 ending June 30, 2026, LuxExperience confirmed its GMV guidance of €2.5 billion to €2.7 billion and an adjusted EBITDA margin of between minus 1 percent and plus 1 percent.
The company also reiterated its medium-term goals of 4 billion euros in net sales and an adjusted EBITDA margin of 7-9 percent.
“We are on track to achieve our expected results for all of fiscal year 2026,” Kliger said.
Fiber2Fashion News Desk (SG)
